An adjusted trial balance is given below. What will be the final balance in the corporation's Retained Earnings account after recording the closing
Entries?
A)$25,800
B)$26,800
C)$14,000
D)$2,800

Question

An adjusted trial balance is given below.  What will be the final balance in the corporation's Retained Earnings account after recording the closing
Entries?
A)$25,800 
B)$26,800 
C)$14,000 
D)$2,800

Quizplus · Accepted Answer

Calculation of Retained Earnings balance:
 11ea8a75_422f_d8e2_a2a1_af03fced133d_TB6701_00 Calculation of Net Income*
 11ea8a75_422f_d8e3_a2a1_27ad412e7485_TB6701_00

An Adjusted Trial Balance Is Given Below